SC Estate Builder Bhd’s wholly owned subsidiary, SC Estate Construction Sdn Bhd, is disposing of a 0.59ha piece of land in Kedah to Pioneer Privilege Sdn Bhd for RM7.9 million.
SC Estate said the disposal will enable the company to use the proceeds to enhance its working capital to facilitate its renewable energy businesses while reducing the company’s operational and maintenance costs of the property.
“The company is expected to gain RM1.6 million from the land disposal, and the proposed disposal is expected to be completed within 24 months from the date of the sales and purchase agreement (April 30),” the company said in a Bursa filing.
It added that the proposed disposal is not expected to have any financial effects on the company’s financial year ending July 31, 2025.
